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BABA

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Alibaba delivered better than expected revenue in its fiscal second quarter as sales in its key cloud computing division accelerated.

Alibaba's New York-listed shares were around 4.3% higher in premarket trade as investors looked past a plunge in profitability.

Here's how the company did in its fiscal second quarter ended Sept. 30 versus LSEG estimates:

Revenue rose 5% to 247.8 billion Chinese yuan ($34.8 billion) versus 242.65 billion yuan the previous year.

Investors are focused on Alibaba's cloud computing division which books its revenue related to artificial intelligence. Over the past few quarters, Alibaba's cloud revenue growth has accelerated.

Alibaba reported a 34% year-on-year rise in

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